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A Paxful co-founder has pleaded guilty to conspiracy charges for failing to maintain an effective anti-money laundering (AML) program on the peer-to-peer cryptocurrency platform. This led to various criminal activities being conducted on the platform, according to the U.S. Department of Justice (DOJ). He faces up to five years in prison and will step down … Read more
Artur Schaback, one of the co-founders of crypto exchange Paxful, has agreed to a plea deal with U.S. prosecutors that could see him locked up for five years. Go to Source
Paxful, the peer-to-peer cryptocurrency platform, has announced a significant reduction in transaction fees for gift cards. The company has slashed its fees by 80%, from the industry standard of 5% to just 1%. This has already resulted in a surge in gift card volumes and trader interest according to the company. The fee reduction applies … Read more
The former CEO of Paxful, Ray Youssef, has told users of the peer-to-peer bitcoin marketplace that he is no longer in control and therefore cannot vouch for “anything that is happening there now.” Youssef also told a user who claimed to have been scammed on the platform that he too has been banned from the … Read more
“I gave up my title as CEO to unfreeze these accounts and am also in danger of being in contempt of court,” said Ray Youssef. Go to Source Powered by WPeMatico
Two major P2P platforms announced their closure in the first quarter of 2023. Many blame it on growing regulatory scrutiny, but experts call for better alternatives. Go to Source Powered by WPeMatico
A bitter dispute between Paxful’s co-founders in Delaware courts may have led to the crypto marketplace’s sudden closure. Go to Source Powered by WPeMatico
Paxful’s shutdown has left its global community heartbroken, but it has significantly impacted the Nigerian community, where it pioneered P2P crypto use. Go to Source Powered by WPeMatico
According to a message from Paxful Founder and CEO, Ray Youssef, the peer-to-peer bitcoin trading platform is suspending its marketplace, and the company is uncertain if it will return. Youssef cited challenges such as regulations and some key staff departures, but he also noted that he could not share the full story at this time. … Read more
Paxful CEO Ray Youssef said U.S. regulators “don’t get it,” but infighting in the C-suite may have played a role in the company’s closure as well. Go to Source Powered by WPeMatico
